Business models, innovation, reengineering, culture change and more can sometimes not produce the expected or at least the immediate results you were expecting. This article is a good read. Another look or a fresh perspective may make the difference.
Excerpt: If you’ve had a bad experience with an operational improvement effort (like Six Sigma or Business Reengineering), or if you haven’t given it much attention lately, you should take a fresh look. Many companies and executives have been disappointed with these efforts when results weren’t sustained and inefficiency crept back in. But improvement has improved.
I see three forces behind this trend:
Read full article via Operational Improvement Has Improved – Brad Power – Harvard Business Review.
A good read on some important ingredients to include in your innovation tasks. It is innovation with issues uppermost in today’s world.
Excerpt: CEOs of large companies face a conundrum: they are confronted with a growing number of frugal consumers clamoring for affordable solutions, yet their existing corporate culture and incentive systems are designed to support a “bigger is better” business model — not to deliver more with less. As the Age of Austerity dawns, however, corporate leaders will have no choice: they will have to bite the bullet and infuse their organizations with a frugal mindset. In sum, CEOs need a frugal innovation agenda.
Frugal innovation is the ability to innovate cost-effectively and sustainably under severe resource constraints.
Read full article via The CEO’s Frugal Innovation Agenda – Navi Radjou, Jaideep Prabhu, Simone Ahuja – Harvard Business Review.
This looks like it will be a good series on governance and how did we get here from there. For all leadership and managment
Excerpt: I’m going to offer some views on how multiple causes, all of them well-intentioned, came together to create a “broken culture,” and I suspect the lessons from the financial sector can be applied more widely. For me, it all seems to be a story of unintended consequences, which makes our current situation more of a tragedy than a conspiracy.
The factors that caused the decline in the financial sector, which I will further elaborate on throughout this series, include:
The rise of the “shareholder value” movement
Changes in the nature of finance sector
The impact of benchmarking approaches
The rise of stock based compensation plans
The rise of the “superstar” CEO
Why regulation on it’s own doesn’t work
Enterprises as educational institutions
How it all fits together
Read full article in series via The Rise of “Shareholder Value” and Its Unintended Consequences | Governance Center Blog.
This is interesting. To be used as an overview and not as an individual measure in another country — still there is value. Small business global.
Excerpt: Firstly, the averages of a country do not relate to individuals of that country. Even though this model has proven to be quite often correct when applied to the general population, one must be aware that not all individuals or even regions with subcultures fit into the mould. It is to be used as a guide to understanding the difference in culture between countries, not as law set in stone. As always, there are exceptions to the rule.
Read full article via Geert Hofstede cultural dimensions. From Clearly Cultural
Risk management important read. The other factors that directly affect your success or not risk managment.
Excerpt: For many, the infrastructure is in place — but the culture is weak. And no matter how good the risk infrastructure, risk management is essentially a people issue, because people take responsibility for managing risk. Smart organizations have developed a culture of Risk Intelligence to gain the edge.
So what should business leaders who are looking to shore up their organization’s risk culture have in mind as they move ahead?
Read article and download paper via Deloitte | Risk Angles | Five Questions on Cultivating a Risk Intelligent Culture | Governance and Risk Management.
Plan an hour for this webinar, but well worth the time. Small business how-to of business culture. This is important and many falter in getting all the pieces in place.
Excerpt: In this HBR webinar, James L. Heskett introduces a powerful conceptual framework for managing culture change and shows it at work in a real-world setting. Heskett’s “culture cycle” identifies policies, practices, measures, and behaviors that are crucial to moving cultures forward. He demonstrates how to calculate the economic value of culture through the “Four Rs” of referrals, retention, returns to labor, and relationships with customers. Listen here.
Webinar here via The Culture Cycle: How to Shape the Unseen Force that Transforms Performance – Jason Sylva – HBR Events – Harvard Business Review.
Leadership and management …. how is your company culture? By example, the article gives you six who are doing it right.
Excerpt…….Now you know how define your company culture from Part 1 of our Special Feature series. And Part 2 (“Turning Your Culture Around”) showed you what bad culture looks like—and what you can do to change it. In Part 3, we go behind the scenes to show you six companies who do culture right. In industries from prototyping to produce, these companies prioritize fun, productive work environments. And it shows in happy employees, satisfied customers and soaring profits
Read full article……via Part 3: Becoming King of Your Culture : The World :: American Express OPEN Forum.
This is a short article but I liked it …….leadership and management
Excerpt…..In fact, soft culture matters as much as hard numbers. And if your company’s culture is to mean anything, you have to hang — publicly — those in your midst who would destroy it. It’s a grim image, we know. But the fact is, creating a healthy, high-integrity organizational culture is not puppies and rainbows. And yet, for some reason, too many leaders think a company’s values can be relegated to a five-minute conversation between HR and a new employee. Or they think culture is about picking which words — do we “honor” our customers or “respect” them? — to engrave on a plaque in the lobby. What nonsense.
Read full article……via Goldman Sachs and a culture-killing lesson being ignored – Fortune Management.
Webcast event on April 18th is free but requires registration……. Leadership and management.
Excerpt……..Adrian Gostick and Chester Elton teamed up with Towers Watson to analyze an unprecedented 300,000-person study revealing that high-performance organizations possess a distinctive kind of culture. In these environments, employees believe in their leaders and the company’s mission, values, and goals. And employees are not only engaged, but also enabled and energized, which leads to astonishing results—average annual operating revenues of 27.4 percent, three times higher than companies lacking such a positive culture.
What You Will Learn
Join us as Gostick and Elton explore a simple 7-step roadmap for creating a high-achieving culture: defining a burning platform, creating rigorous customer focus, making sure team members root for one another, and establishing clear accountability. Attend and you’ll hear:
Specific how-tos for inspiring belief in your mission and goals
Fascinating stories depicting the power of culture in action
Advice for getting your employees “all in”
While attending this program is FREE, reservations are required.
Register for free here……..via How the Best Managers Create a Culture of Belief. From American Management Association
Excerpt…….entrepreneurship is to emphasize its role in creating jobs. A strong entrepreneurial culture is the foundation of a dynamic economy. It reflects how a country’s society supports the ideas and initiatives of entrepreneurs and how it can direct young people toward a career in business by enhancing their skills. A strong entrepreneurial culture means there is less off a stigma associated with failure and recognizes the crucial role of entrepreneurs in creating new jobs.A country’s entrepreneurial culture depends on a variety of factors. Perhaps the most important is it serves as a seedbed for innovation.
Read full article…via Entrepreneurs speak out – Entrepreneurship culture – Ernst & Young – Global.
Good read…. management takeaways for all small business.
Excerpt……”Problems are a gold mine. They are our opportunity to get better.”
In fact, the director of lean enterprise says a sign that shows you are developing a continuous-improvement culture is when employees are excited about sharing the fact they have a problem, rather than being embarrassed about it. That means not only are they recognizing that “identifying problems is a good thing, not a bad thing,” Willick explains, but they also know that public chastisement (or something equally negative) isn’t the reward for sharing the problem
Read full article……via IndustryWeek : Whether You are Talking Lean or Continuous Improvement, Problems are a Gold Mine.
Good read….study adds to your bank of innovation knowledge and how-to….
Excerpt….The elements that make up a truly innovative company are many: a focused innovation strategy, a winning overall business strategy, deep customer insight, great talent, and the right set of capabilities to achieve successful execution. More important than any of the individual elements, however, is the role played by corporate culture — the organization’s self-sustaining patterns of behaving, feeling, thinking, and believing — in tying them all together.
Read full article……series via The Global Innovation 1000: Why Culture Is Key. From Strategy + Business
Excerpt……CHRO Insights on Social Learning, Leadership Development and Fostering Collaboration from IBM
The CHRO series discusses insights provided by more than 700 Chief Human Resource Officers around the world and how IBM and its clients are employing Social Business practices for social learning, leadership development and fostering collaboration to build a culture that rapidly develops workforce skills and capabilities, cultivates creative leaders, and capitalizes on collective intelligence.
Register — webcast free — 1st event 10.20.11 via Event Registration (EVENT: 360947).